The China Opportunity
Rising consumer spending power and an enthusiasm for online shopping and international travel are compelling reasons to tap into the world’s largest consumer market.
China is in the midst of a transformation that presents an unprecedented opportunity for Canadian businesses.
China’s middle-class population is projected to exceed 600 million by 2022, or nearly twice the size of the entire U.S. population and 16 times the size of Canada’s.
This juggernaut of rising consumer spending power, coupled with a growing desire for higher-quality goods and experiences, is shaping a new generation of more sophisticated, tech-savvy consumers who are actively looking overseas for quality merchandise, fresh foods and travel experiences.
With retail spending stagnating in much of the developed world, China represents a unique opportunity for sales growth.
Learn how to sell to the China consumer
It’s never been easier to export to China, for one reason: e-commerce. China spends and shops online more than any other country. Online sales were approximately $750 billion last year, according to eMarketer, representing 16 percent of China’s total retail sales, the highest proportion in the world and expected to exceed one-third of all retail sales by 2020.
Research by BCG and AliResearch, indicates that e-commerce will become an even more important retail channel in the future, driving 42% of total consumption growth, with 90% of that growth coming from mobile e-commerce.
Chinese online shoppers are increasingly purchasing goods directly from overseas merchants selling through online marketplaces such as Alibaba’s Tmall, Tmall Global and Taobao Global. This trend, called “cross-border e-commerce,” is gathering steam partly due to reduced trade barriers.
China’s cross-border retail e-commerce sales are projected by eMarketer to reach $245 billion by 2020.
At Gateway ’17, you’ll hear from experts who will explain the nuances of the Chinese consumer: what they buy, how they shop, how they travel, and how they are influencing the trends and technologies that will be driving future growth in this fast-growing market.
You’ll learn how Alibaba and its partners are making cross-border e-commerce easier and more profitable through innovative, web-based sales, payments, logistics and digital marketing solutions. Canada’s travel, retail and restaurant community will be interested to learn how Alibaba’s online travel marketplace and payment solution Alipay can help Canadian businesses attract the Chinese tourist market.